Classifications

• • G—PHYSICS
  • G06—COMPUTING; CALCULATING OR COUNTING
  • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
  • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
  • G06Q40/04—Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• • H—ELECTRICITY
  • H04—ELECTRIC COMMUNICATION TECHNIQUE
  • H04L—TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
  • H04L9/00—Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols
  • H04L9/14—Cryptographic mechanisms or cryptographic arrangements for secret or secure communications; Network security protocols using a plurality of keys or algorithms
• • H—ELECTRICITY
  • H04—ELECTRIC COMMUNICATION TECHNIQUE
  • H04L—TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
  • H04L2209/00—Additional information or applications relating to cryptographic mechanisms or cryptographic arrangements for secret or secure communication H04L9/00
  • H04L2209/08—Randomization, e.g. dummy operations or using noise
• • H—ELECTRICITY
  • H04—ELECTRIC COMMUNICATION TECHNIQUE
  • H04L—TRANSMISSION OF DIGITAL INFORMATION, e.g. TELEGRAPHIC COMMUNICATION
  • H04L2209/00—Additional information or applications relating to cryptographic mechanisms or cryptographic arrangements for secret or secure communication H04L9/00
  • H04L2209/56—Financial cryptography, e.g. electronic payment or e-cash

Definitions

• a financial instrument trading system such as a futures exchange, referred to herein also as an "Exchange”, such as the Chicago Mercantile Exchange Inc. (CME), provides a contract market where financial instruments, for example futures and options on futures, are traded. Futures is a term used to designate all contracts for the purchase or sale of financial instruments or physical commodities for future delivery or cash settlement on a commodity futures exchange.
• a futures contract is a legally binding agreement to buy or sell a commodity at a specified price at a predetermined future time.
• An option is the right, but not the obligation, to sell or buy the underlying instrument (in this case, a futures contract) at a specified price within a specified time.
• Solutions to the inefficiencies and inequities described above include generally reducing the requisite bandwidth of the communications, such as via encoding or compression mechanisms, and introducing mechanisms, such as buffers, to align, equalize or otherwise normalize the latencies of the separate communications paths.
• bandwidth required for each of the feeds attempts to address inefficiency, such reductions are system and hardware dependent in their effectiveness.
• attempts to achieve parity in terms of latency between two different data feeds publishing the same data has generally been a "best effort" solution. That is, while inherent latencies may be accounted for, it is difficult, for example, to account for transient events, such as errors or interference, which may introduce additional and likely substantially random latencies.
• embodiments are preferably implemented with computer devices and computer networks, such as those described with respect Figure 4, that allow users, e.g. market participants, to exchange trading information.
• users e.g. market participants
• the plurality of entities utilizing the disclosed embodiments may be referred to by other nomenclature reflecting the role that the particular entity is performing with respect to the disclosed embodiments and that a given entity may perform more than one role depending upon the implementation and the nature of the particular transaction being undertaken, as well as the entity's contractual and/or legal relationship with another market participant and/or the exchange.
• the second logic 212 may be further executable by the processor 202 to augment a second financial message with identification data
• An embodiment involves transmitting (Block 330), by the processor 202 via the network 214, the obfuscated first financial message to the first market participant.
• An embodiment involves transmitting (Block 340), by the processor 202 via the network 214, the second financial message to the plurality of market participants.
• the computer system 400 may further include a display unit 414, such as a liquid crystal display (LCD), an organic light emitting diode (OLED), a flat panel display, a solid state display, a cathode ray tube (CRT), a projector, a printer or other now known or later developed display device for outputting determined
• a display unit 414 such as a liquid crystal display (LCD), an organic light emitting diode (OLED), a flat panel display, a solid state display, a cathode ray tube (CRT), a projector, a printer or other now known or later developed display device for outputting determined
• application, script, or code can be written in any form of programming language, including compiled or interpreted languages, and it can be deployed in any form, including as a standalone program or as a module, component, subroutine, or other unit suitable for use in a computing environment.
• a computer program does not necessarily correspond to a file in a file system.
• a program can be stored in a portion of a file that holds other programs or data (e.g., one or more scripts stored in a markup language document), in a single file dedicated to the program in question, or in multiple
• processors suitable for the execution of a computer program include, by way of example, both general and special purpose microprocessors, and anyone or more processors of any kind of digital computer.
• a processor will receive instructions and data from a read only memory or a random access memory or both.
• the essential elements of a computer are a processor for performing instructions and one or more memory devices for storing instructions and data.
• a computer will also include, or be operatively coupled to receive data from or transfer data to, or both, one or more mass storage devices for storing data, e.g., magnetic, magneto optical disks, or optical disks.
• mass storage devices for storing data, e.g., magnetic, magneto optical disks, or optical disks.
• a computer need not have such devices.
• the computing system can include clients and servers.
• a client and server are generally remote from each other and typically interact through a communication network.
• the relationship of client and server arises by virtue of computer programs running on the respective computers and having a client-server relationship to each other.
• the illustrations of the embodiments described herein are intended to provide a general understanding of the structure of the various embodiments. The illustrations are not intended to serve as a complete description of all of the elements and features of apparatus and systems that utilize the structures or methods described herein. Many other embodiments may be apparent to those of skill in the art upon reviewing the disclosure. Other embodiments may be utilized and derived from the disclosure, such that structural and logical substitutions and changes may be made without departing from the scope of the disclosure. Additionally, the illustrations are merely representational and may not be drawn to scale. Certain proportions within the illustrations may be exaggerated, while other proportions may be minimized. Accordingly, the disclosure and the figures are to be regarded as illustrative rather than restrictive.

Landscapes

• Engineering & Computer Science (AREA)
• Business, Economics & Management (AREA)
• Finance (AREA)
• Accounting & Taxation (AREA)
• Economics (AREA)
• Signal Processing (AREA)
• Computer Networks & Wireless Communication (AREA)
• Development Economics (AREA)
• Computer Security & Cryptography (AREA)
• Marketing (AREA)
• Strategic Management (AREA)
• Technology Law (AREA)
• Physics & Mathematics (AREA)
• General Business, Economics & Management (AREA)
• General Physics & Mathematics (AREA)
• Theoretical Computer Science (AREA)
• Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

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Publications (2)

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Citations (3)

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• 2014
  • 2014-12-05 EP EP14869685.9A patent/EP3080771A4/de not_active Withdrawn
  • 2014-12-05 WO PCT/US2014/068710 patent/WO2015088894A1/en active Application Filing

Patent Citations (3)

Non-Patent Citations (1)

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